Jul 20, 2026 – 4.00pmIn January last year, Chinese start-up DeepSeek unleashed carnage in equity markets after releasing its R1 artificial intelligence model, which boasted similar capabilities to major US rivals but at a fraction of the cost.Just 18 months later, markets are facing an even bigger threat after another Chinese start-up called MoonShot on Friday unveiled its new Kimi K3 model that competes with the capabilities of the top-tier offerings from US AI giants Anthropic and OpenAI.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
‘More serious than DeepSeek’: Chinese start-up kills AI euphoria
Fund managers warn that MoonShot’s new AI model could trigger an even bigger sharemarket collapse than the one caused by DeepSeek last year.
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